Sri Rituraj Dey, Member
The present case has been filed by the complainant praying for an order for payment of claim amount of Rs. 1,05,744/-, compensation of Rs. 25,000/-, litigation cost of Rs. 5,000/- and interest at the rate of 8% per annum from the date of maturity which are to be paid by the OPs to the complainant.
The complainant’s case in a nutshell is that the complainant purchased a policy namely “Scheme E3” from OP No.1 on 29/11/2008 depositing 60 installments of Rs. 1,000/- each including fine. The maturity amount of the said scheme was Rs. 1,05,744/- on 29/11/2013. The complainant submitted all the relevant papers to the OP in respect of the said scheme. In connection with the said maturity amount the OPs issued a cheque bearing Rs. 1,05,744/- and drawn on UBI Bank Mathchandipur branch on 15/02/2014 to the complainant. According to the complainant the said cheque was dishonoured in S.B.I. Bajkul Branch due to insufficient fund. The matter was informed to the complainant by complainant’s bank SBI Bajkul Branch and accordingly the complainant several times informed OP about the same. After that the OP No.1 received the original dishonoured cheque from the complainant on 22/05/2014 and assured him for paying Rs. 1,05,744/- within one month. Having had no response from OP No.1 after several meeting the complainant lodged a complaint against OP vide GDE No. 949 dt. 24/07/2014. The OP/OPs has/have not paid the aforesaid amount to the complainant after the said complaint. Hence the case has been filed by the complainant.
The OPs have appeared in this case by filing W/V as also W/N/A wherein OPs have admitted about the policy and maturity value as mentioned by the complainant. According to the OPs, the OPs could not make any payment to the complainant after the completion of the policy period due to some unavoidable circumstances made by the government policy against Non- Government Financial institution and also for freezing of bank accounts. OP1 informed the said matter to the complainant. In accordance with Ops, the Op No.1 paid the maturity payable amount to the complainant by cheque bearing no.057574 dt. 15/02/2014 but the said cheque was dishonoured. OPs made payment through NEFT of Rs. 1,05,744/- in favour of the complainant’s account in Bajkul Branch on 17/09/2014 but due to wrong account number mentioned by the OP/OPs in the said transaction, the amount was not credited. The Ops have stated in their statement that the Ops’ Company management has already decided to pay the interest @ 10% p.a. for the delayed period till the date of payment, if payments are not made within 45 days from the due date.
None of the parties adduced any evidence but they have relied upon the averments in their respective pleadings which were supported by affidavit and the documents submitted by them before this Forum. We have gone through the pleadings and the documents submitted by the parties on record.
Points for Consideration
Is there any deficiency in service on the part of the OPs?
Whether the complainant is entitled to get any relief or compensation?
Decision with Reason
Having perused the documents filed by the parties and considered the arguments made by both the parties, we find that the complainant purchased a policy Scheme E3 from OPs. It is also evident from the documents filed by the parties that the complainant has paid 60 installments each of Rs. 1,000/- in respect of the said policy. OPs had also issued a cheque bearing Rs. 1,05,744/- in favour of complainant on 15/02/2014 in respect of maturity amount of the said policy. From the documents we find that said cheque was dishonoured due to insufficient fund in OPs’ a/c. The complainant has not been paid the matured amount by OP/OPs till filing of the case. The complainant has paid Rs. 60,000/- including fine to the OPs in respect of the policy which was offered by the OPs to the complainant and wherein the OPs have assured the complainant for returning of Rs. 1,05,744/- at the end of 29/11/2013. Accordingly it has been the duty of the OPs to return the matured value to the complainant timely but the OPs have failed to do their duty. The Ops have not paid the matured amount as mentioned in the policy certificate to the complainant in time. The Ops have stated about their incapability in providing matured amount referring the govt. policy against Non- Government Financial Institution and also of freezing of bank accounts. Then question arise if OPs were aware of govt. policy and freezing of bank accounts before issuing the cheque then why they issued the cheque bearing amount Rs. 1,05,744/- to the complainant on 15/02/2014. Moreover the OPs have not filed any supporting documents in respect of freezing of bank accounts and the govt. policy as mentioned by OPs in there W/V as well as W/N/A. The OPs have failed in his assurance and commitment. Having considered the above discussion we find deficiency in service on the part of the OPs.
The complainant has invested a large amount from 29/11/2008 to 29/10/2013 to the OPs’ scheme through a policy certificate for getting a matured value of Rs. 1,05,744/- as mentioned and assured by the OPs in the policy certificate. A man invest money to return back a profit whether in any kinds or in cash. Here the complainant expected with desire a certain amount including interest in respect of his investment but unfortunately he has to face various problem for availing of the said amount but till filing of the instant case the complainant has not received the said amount as mentioned in the aforesaid policy certificate. If the complainant does not get back the said matured amount for which he invested a certain amount in five years, then the complainant will face an excessive loss in money including it’s interest and utility. Hence, we think the complainant is entitled to get Rs. 1,05,744/- along with the interest of Rs. 8% p.a. from the date of maturity and the compensation of Rs. 10,000/- as well as litigation cost of Rs. 3,000/-.
Hence, it is,
Ordered
that the instant case be and the same is allowed on contest against the OPs and the OPs are directed to pay Rs. 1,05,744/- along with the interest of Rs. 8% p.a. on the said matured amount from the date of maturity till compliance of the order and Rs. 10,000/- as compensation as well as Rs. 3,000/- as litigation cost to the complainant jointly / severally within 30 days from the issuance of this order, failing which the ops shall be liable to pay a fine of Rs. 100/- per day jointly/severally charging from the date of issuance of this order till the date of compliance of this order in toto. The complainant is at liberty to put the order in execution after expiry of 30 days from the issuance of the order as per law if the OPs fail to comply with the direction as aforesaid within the specified period.
